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To: benwood who wrote (67889)8/21/2007 12:41:42 PM
From: Tommaso  Read Replies (2) | Respond to of 116555
 
My understanding is that there is as much gold at Fort Knox as there ever was. But it serves no purpose except maybe to provide some distant reassurance of the value of the USD--more like a religious reverence than anything actual. Kind of like Papal infallibility. I continue to be amazed at the willingness of the world to accept USD as being worth very much.



To: benwood who wrote (67889)8/21/2007 5:33:13 PM
From: Bill/WA  Read Replies (1) | Respond to of 116555
 
ben,
Help me understand why gold can't be viewed as a (safe)haven for money (re: cash).
I bought the physical back when Heinz recommended (around $272). Recently cashed some in (@ $682) at spot price at a coin dealer. True, I didn't actually purchase anything WITH the gold, however it sure wasn't a problem getting the cash, AND that original $272 in cash would be worth a lot less IF it had stayed in cash.

Bill


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